Victoria Share Discussion Threads

[onjohn] 28/6/2016 00:12

Kiwi carpet king turns £20k into £100m

Boss of 120-year-old firm that made the red carpet for the Royal wedding reaps rewards after furious boardroom coup
Danny Fortson Published: 13 September 2015
Comment (3) Print
Royal choice: carpet maker Victoria created the red carpet for the 2011 Royal weddingRoyal choice: carpet maker Victoria created the red carpet for the 2011 Royal wedding (Dave Cannon/Getty)

THE chairman of one of Britain’s last carpet makers has struck the deal of the decade by turning a £20,000 investment into a £96m bonanza in only two years.

Geoff Wilding, a former investment banker from New Zealand, has overhauled Victoria, a 120-year-old Kidderminster company that made the red carpet for the 2011 Royal wedding.

Wilding, 51, became executive chairman in October 2012 after a protracted battle with management. His coup was aided by an unusual arrangement — disclosed to the Stock Exchange — under which he personally paid Alexander Anton, a great-grandson of the founding family and a big investor, to support his bid for control.

The company said at the time: “This money, a sum yet to be decided, will be at Geoff’s discretion and from his personal account.”


This last line doesnt sit too well with me

[rubberbullets] 27/6/2016 20:27

just hope auditors don't write down acquisitions. Goldman Sachs in a note said that it now expects the U.K. to enter a technical recession in the first half of 2017

[1boston] 27/6/2016 16:10

Agree – to me this looks like a time to buy.

VCP exports nothing to Europe so I can’t see downside there. But a lower pound makes its UK manufacturing costs materially lower than its main competitors, the Europe-based manufacturers (more than half the carpet sold in the UK is manufactured in Europe, primarily Belgium and the Netherlands). That makes Victoria much more competitive and offers it the opportunity to grow its market share and its earnings.

Also, 25% of Victoria is Australian - unaffected by Brexit except that a cheaper pound increases UK-reported profits.

[dynamoo] 27/6/2016 15:23

£11 it is then.

Break that and it will hit £8 no bother.

[luckymouse] 25/6/2016 15:02

Yes that's it - its not a guy standing in front of a Lamborghini selling courses & signals lol - its a serious 2-3yr degree course with modules in psychology & discipline.

Even then the lifestyle is questionable unless your fortunate enough to be in some network of similar mates.

Then you have to look at the big guys like Soros - they are different again - they are looking for big paradigm shifts & bet vast sums on it. Soros is like a top poker player - he waits with the patience of someone in Cryostasis - then is prepared to go all in. Very unique people.

[dynamoo] 25/6/2016 09:17

My aim was never to be "an elite" trader. Top 10% never crossed my mind.It was to be consistent and manage my risk.Having an ego as a day trader is the wrong way to be.Most of those guys can only talk the talk, and end up selling ebooks lol

[dynamoo] 25/6/2016 09:10

I agree with you there, it's only a small percentage. Whether it's 10% I'm not sure, possibly smaller.It took me two years to get consistent. Blew a couple of small accounts in the first few month, and a period of one step forward, one back.But once I buckled down and treat it like a business I was doing well.But sitting in front of a PC all day is not what I want for my life.

[luckymouse] 24/6/2016 22:02

you know full well only the top 9% traders survive long term and what it takes - also that only around 25% of pi's are meaningfully successful - you have to swing off the extremes and be tough as a bullet

[dynamoo] 24/6/2016 20:55

Who wants to be in the top 10%?It wasn't an ego contest for me, unlike you. It was a business.I made my money and ran. D

[luckymouse] 24/6/2016 19:27

well you have to be genuinely skilled, determined as hell with a rhino skin to trade in the top 10% so perhaps that explains much lol

Totally agree about the socially unfulfilling solitary aspect of trading - I also find it an issue. I think the long term survivors develop trading partners and networks.

[rotrader] 24/6/2016 17:54

I believe this will jump big time when the results are posted - as before the Brexit vote should not damage the company, in fact it could help in the long term.
Granted I was wrong about the low £14 but I didn't expect the vote to go that way.

[dynamoo] 24/6/2016 10:15

I have no superior intellect, far from it.

But it could also be said that you're arguing black is white against me.

You're just a stubborn it seems.

Maybe it won't end up well for you either?

I gave up trading full time (through a limited co.) because it was a lonely job. Too many days sitting staring at flashing numbers and charts. I used to go to bed and dream of charts lol.

I gave up, bought some property and invested in a business. Best thing I ever did. But still love it.

GL

D

[luckymouse] 24/6/2016 10:07

They will try slow you down - with blocks, exc delays, acc f.ups etc - that's true - will do that.

Years ago I met a guy who would argue black is white right to death - did it with everyone - thought he was a superior intellect arguologist or something & got a kick out of it. In reality he had some kind of emotional problem & everyone totally hated him. It didn't end well for him.

But good luck with that approach

[dynamoo] 24/6/2016 09:45

And there's no trading against you.

If you make money constantly from a CFD or SB broker (like your 1000's per day), they will not let that happen long term, and take any means to stop you being profitable.

They are a bookmaker, plain and simple.

[dynamoo] 24/6/2016 09:43

Not really. Tax is a cost of business, no matter what you do.

If you trade full time, as your main income, you will have a hard time trying to not pay tax or capital gains on spread betting earnings. Fact.

And for costs think of it like this..

If you are buying Dow at £10 a point (or $10 futures contracts).. and make 100 trades per month.

With an SB you are paying £30 a time with a 3 point spread.

With direct access you are paying a flat commission of say $7, and no spread.

Now add that up over a year and see how much cheaper it is for a pro doing business with a real trading account.

[luckymouse] 24/6/2016 09:37

decent account size & futs margin deposit not that different - but there's no need these days if you get the best deals & use a proper scalping bkr - plus theres some execution & tax disadvantages to dma

Sounds like your a bit out of touch to me

[1boston] 24/6/2016 09:28

I don't see a downside for VCP from Brexit.

VCP exports nothing to Europe so no downside. But a lower pound makes its UK manufacturing costs materially lower than its main competitors, the Europe-based manufacturers. So it gains market share and earnings go up.

Plus, 25% of Victoria is Australian - unaffected by Brexit except that a cheaper pound increases UK-reported profits.

[dynamoo] 24/6/2016 09:20

How can you say action was in the small hours and not today?

As it stands, the FTSE has jumped about 300 points since 8am.

Not often a pro trader can get that sort of action in an hour.

[dynamoo] 24/6/2016 09:18

lol.. yeah

You know you're a pro trader when you use a spread bet company and pay those spreads.

Be a proper pro and get direct access, zero spreads.

Oh, wait. Initial deposit and margin too much for you?

D

[luckymouse] 24/6/2016 09:12

Action was in the small hrs thanks - not today - o/n spread on ftse was 20pts - but dow was standard spread on some SBs - very nice too - amazing 500pt swings

Shame you don't know your stuff - oh I forgot - you traded futs for yrs - doesn't sound like it tho?

[dynamoo] 24/6/2016 09:03

Filter me all you want, hear no evil.

You were the guy on the other thread who said famously (and let it be written in stone), "last chance to buy at £14"..

Yup, I guess you were right, last chance before it went to £11.. lol

[dynamoo] 24/6/2016 08:59

Lucky

Anyway, I thought you would be raking in thousands today with these 200 point swings on the FTSE, that is what the pro traders are doing isn't it?

Or can't you afford the margin increases at the spread bet companies today?

[rotrader] 24/6/2016 08:57

LM I filtered Dyn or is it dyn months ago.
Will not be posting on this board agaain